Funding arb · Price arb /

PONS

all PONS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.087%

Price spread now: Orderly against Variational Omni−0.024%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.024% cheaper against Variational Omni than usual: you would sell low and buy high, −$2 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni PONS	0.5909	0.0100	pay 0.0050% / 4h	2h 21m	$1.3M	$4.3M	—
Short	Orderly PERP_PONS_USDC_mythos	0.5907	0.0100	get 0.0050% / 4h	2h 21m	$2K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Variational OmnibpFee OrderlybpOrdersPrice spread, now −0.024%Rate

Funding earned: $0
Price spread: −0.024% → 0.000%: −$2.36
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$8.36
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Orderly: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Variational Omni RFQ quote, 2 min ago	4.24 bp	doesn't fit	38.1 bp −$381	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

PONS on 30 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) PONS/USD	L +0.0032% / S −0.0034%	1h	0.5896	−0.212%	$216K	—	150x	as long as short
Injective PONS/USDC PERP	+0.0066%	1h	0.5920	+0.183%	$609	$6K	5.5x	as long as short
Popdex PONSUSDT	+0.0096%	1h	0.5905	−0.064%	$21K	$446K	20x	as long as short
Nado PONS-PERP	+0.0100%	1h	0.5904	−0.080%	$89K	$103K	5x	as long as short
Bybit PONSUSDT	+0.0100%	4h	0.5906	−0.047%	$17.7M	$31.8M	20x	as long as short
OKX PONS-USDT-SWAP	+0.0100%	4h	0.5906	−0.047%	$13.4M	$56.2M	20x	as long as short
KuCoin PONSUSDTM	+0.0100%	4h	0.5903	−0.093%	$1.7M	$3.7M	20x	as long as short
Bitget PONSUSDT	+0.0100%	4h	0.5911	+0.034%	$4.6M	$11.7M	20x	as long as short
Variational Omni PONSlong	+0.0100%	4h	0.5909	long leg	$1.3M	$4.3M	—
ApeX Omni PONSUSDT	+0.0100%	1h	0.5907	−0.035%	$34K	$332K	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_PONS_USDC_mythosshort	+0.0100%	4h	0.5907	−0.024%	$2K	$3K	10x
SunX PONS-USDT	+0.0100%	4h	0.5907	−0.024%	—	$1.4M	10x	as long as short
SoDEX PONS-USD	+0.0100%	1h	0.5905	−0.073%	$27K	$549K	3x	as long as short
HTX PONS-USDT	+0.0100%	4h	0.5905	−0.059%	$64K	$504K	20x	as long as short
Phemex PONSUSDT	+0.0100%	4h	0.5899	−0.166%	$1.6M	$3.3M	20x	as long as short
Aevo PONS-PERP	+0.0128%	1h	0.5902	−0.121%	$368	—	3x	as long as short
Extended PONS-USD	+0.0176%	1h	0.5907	−0.025%	$106K	$533K	5x	as long as short
Binance PONSUSDT	+0.0178%	4h	0.5910	+0.020%	$38.4M	$98.3M	20x	as long as short
MEXC PONS_USDT	+0.0180%	4h	0.5908	−0.013%	$7.5M	$5.2M	20x	as long as short
BingX PONS-USDT	+0.0184%	4h	0.5908	−0.013%	—	$3.1M	—	as long as short
edgeX PONSUSDC	+0.0199%	4h	0.5907	−0.022%	$21K	$292K	10x	as long as short
Aster PONSUSDT	+0.0199%	4h	0.5902	−0.118%	$1.1M	$2.2M	20x	as long as short
Polymarket Perps PONS-USD	+0.0351%	1h	0.5906	−0.044%	$37K	$1.8M	3x	as long as short
BloFin PONS-USDT	+0.0421%	4h	0.5901	−0.132%	$1.7M	$965K	20x	as long as short
Pacifica PONS	+0.0474%	1h	0.5899	−0.167%	$47K	$103K	3x	as long as short
Hyperliquid PONS	+0.0496%	1h	0.5908	−0.013%	$59.1M	$30.0M	3x	as long as short
Lighter RH PONS	+0.0632%	1h	0.5906	−0.051%	$415K	$2.6M	3x	as long as short
Gate PONS_USDT	+0.0634%	4h	0.5903	−0.098%	$5.2M	$6.8M	20x	as long as short
Lighter PONS	+0.1032%	1h	0.5907	−0.024%	$1.7M	$883K	3x	as long as short
Phoenix PONS	+0.1275%	1h	0.5904	−0.081%	$28K	$86K	3x	as long as short